Tax sell-to-cover trims SailPoint (SAIL) CAO share position
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SailPoint, Inc. Chief Accounting Officer Mitra Rezvan reported open-market sales of 6,836 shares of common stock. The sales occurred over April 7–9, 2026 at weighted average prices between $11.4228 and $12.8006 per share.
According to the filing, these trades were executed under a Rule 10b5-1 trading plan and pursuant to a mandatory sell-to-cover provision in her restricted stock unit agreement to satisfy tax withholding obligations upon RSU vesting, so they are not discretionary trades. After the transactions, she directly holds 196,963 shares.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 6,836 shares ($82,716)
Net Sell
4 txns
Insider
REZVAN MITRA
Role
Chief Accounting Officer
Sold
6,836 shs ($83K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 3,310 | $11.4228 | $38K |
| Sale | Common Stock | 162 | $12.21 | $2K |
| Sale | Common Stock | 1,681 | $12.8006 | $22K |
| Sale | Common Stock | 1,683 | $12.7219 | $21K |
Holdings After Transaction:
Common Stock — 197,125 shares (Direct)
Footnotes (1)
- These trades were executed under a Rule 10b5-1 trading plan and pursuant to a mandatory sell-to-cover provision in the Reporting Person's underlying Restricted Stock Unit Agreement for the satisfaction of tax withholding obligations in connection with the vesting of restricted stock units and consequently do not represent discretionary trades by the Reporting Person. On April 7, 2026, the Reporting Person sold 1,683 shares in multiple trades at prices ranging from $12.46 to $13.095 per share. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the trades were effected. On April 8, 2026, the Reporting Person sold 1,681 shares in multiple trades at prices ranging from $12.40 to $13.21 per share. On April 9, 2026, the Reporting Person sold 3,310 shares in multiple trades at prices ranging from $11.135 to $12.01 per share.
Key Figures
Total shares sold: 6,836 shares
Shares sold on April 7, 2026: 1,683 shares
Shares sold on April 8, 2026: 1,681 shares
+3 more
6 metrics
Total shares sold
6,836 shares
Net open-market sales over April 7–9, 2026
Shares sold on April 7, 2026
1,683 shares
Common Stock at $12.7219 weighted average price
Shares sold on April 8, 2026
1,681 shares
Common Stock at $12.8006 weighted average price
Shares sold on April 9, 2026 (block 1)
3,310 shares
Common Stock at $11.4228 weighted average price
Shares sold on April 9, 2026 (block 2)
162 shares
Common Stock at $12.2100 weighted average price
Post-transaction holdings
196,963 shares
Directly held Common Stock after April 9, 2026 sale
Key Terms
Rule 10b5-1 trading plan, mandatory sell-to-cover provision, Restricted Stock Unit Agreement, weighted average sale price, +1 more
5 terms
Rule 10b5-1 trading plan financial
"These trades were executed under a Rule 10b5-1 trading plan and pursuant to a mandatory sell-to-cover provision..."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
mandatory sell-to-cover provision financial
"…executed under a Rule 10b5-1 trading plan and pursuant to a mandatory sell-to-cover provision in the Reporting Person's underlying Restricted Stock Unit Agreement…"
Restricted Stock Unit Agreement financial
"…mandatory sell-to-cover provision in the Reporting Person's underlying Restricted Stock Unit Agreement for the satisfaction of tax withholding obligations…"
A restricted stock unit agreement is a written contract between a company and an individual that describes a promise to deliver company shares or cash later, subject to conditions such as time-based vesting or performance targets. Think of it like a timed gift: the recipient only receives the shares if they meet the agreed conditions. Investors care because these agreements create future share issuance, affect potential dilution, corporate expenses and incentives for insiders, and influence when insiders may sell shares.
weighted average sale price financial
"The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide…"
tax withholding obligations financial
"…for the satisfaction of tax withholding obligations in connection with the vesting of restricted stock units and consequently do not represent discretionary trades…"
FAQ
What did SailPoint (SAIL) executive Mitra Rezvan report in this Form 4?
Mitra Rezvan, SailPoint’s Chief Accounting Officer, reported selling 6,836 shares of common stock. The sales occurred between April 7 and April 9, 2026, at weighted average prices around the low-to-mid teens per share, and were tied to tax withholding on vesting RSUs.
Were the SailPoint (SAIL) CAO’s Form 4 stock sales discretionary trades?
No, the filing states the trades were executed under a Rule 10b5-1 trading plan and a mandatory sell-to-cover provision. They were made to satisfy tax withholding obligations upon restricted stock unit vesting, and therefore are described as non-discretionary.
What is a sell-to-cover provision as used in the SailPoint (SAIL) Form 4?
In this context, a sell-to-cover provision automatically sells a portion of vested restricted stock units to cover tax withholding obligations. The SailPoint filing explains the CAO’s trades were mandatory under this RSU agreement mechanism, rather than elective open-market sales.